Penske Automotive Group (NYSE:PAG – Get Free Report) released its earnings results on Wednesday. The company reported $3.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.39 by $0.22, Briefing.com reports. Penske Automotive Group had a net margin of 3.27% and a return on equity of 21.72%. The business had revenue of $7.70 billion for the quarter, compared to analysts’ expectations of $7.59 billion. During the same period last year, the company earned $4.41 earnings per share. The company’s quarterly revenue was up 3.1% on a year-over-year basis.
Penske Automotive Group Trading Down 1.6 %
Shares of Penske Automotive Group stock traded down $2.86 during trading hours on Thursday, hitting $171.25. The company’s stock had a trading volume of 432,012 shares, compared to its average volume of 195,979. The business has a fifty day moving average of $151.78 and a 200 day moving average of $152.70. Penske Automotive Group has a 1-year low of $137.95 and a 1-year high of $179.72. The company has a quick ratio of 0.23, a current ratio of 0.98 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $11.45 billion, a PE ratio of 11.77 and a beta of 1.18.
Penske Automotive Group Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 4th. Shareholders of record on Thursday, August 15th will be given a dividend of $1.07 per share. This represents a $4.28 dividend on an annualized basis and a yield of 2.50%. This is a boost from Penske Automotive Group’s previous quarterly dividend of $0.96. The ex-dividend date of this dividend is Thursday, August 15th. Penske Automotive Group’s payout ratio is 29.76%.
Analyst Upgrades and Downgrades
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About Penske Automotive Group
Penske Automotive Group, Inc, a diversified transportation services company, operates automotive and commercial truck dealerships worldwide. The company operates through four segments: Retail Automotive, Retail Commercial Truck, Other, and Non-Automotive Investments. It operates dealerships under franchise agreements with various automotive manufacturers and distributors.
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